Technology can make market research smarter
This is my site By Faisal Kawoosa on February 7th, 2009

Market research has almost become paperless. By using simple technology solutions (although making them is not easy) market researchers worldwide have been able to put in research in a very cost effective manner besides squeezing the time schedules. A lot of tools help market researchers in the analysis part of the research making the post data collection tasks more meaningful as analysts can come out with solutions by analysing complex data.

On the other hand, data collection has also become relatively simple due to the influx of technology. We see many aides originating from technology like CATI (Computer Aided Telephone Interviews) and VRU (Voice Response Units) that have helped the researchers to gather data with convenience. Similary online tools have also helped a lot as researchers are now able to go across boundaries for a research and it is also convenient to the respondents to opine at their will.

Despite all this face to face interaction is very important in market research. It has not lost its relevance in most of the parts of the world. Except for US and few regions in Europe, these advanced tools for market research have not resulted in mass usage and acceptance. Either of cultural influences or lack of availability of such tools, market research is still pursued in conventional ways.

This has lengthened the process of market research and at times results in delayed delivery of results, poor quality of data collection and additional costs. It is becomming very impractical to employ a number of interviewers on part time basis for data gathering and expect dedication of full time employees from them. Plus, a typical process goes like this: Market Research Consultancy – Part time Interviewer – face to face interview – data entry – data analysis – reporting. One of the basics of communication is that it is imperative to loose some data (communication gaps) and as many as elements we have in the chain the information will be distorted.

Technologists can help us in this area as well. Data collection should be in real time. That is what makes market research easy, cost effective and superior in quality. Besides there is not much data distortion as not many elements remain in the chain. This is what makes the present tools effective for market researchers. The technologists must help market researchers in one more way that would make the stream smarter. There should an A4 device capable of connecting to the Internet that would be ofcourse touch screen based. This device can be held by the interviewers and while interviewing the respondents he can directly feed the data into the form and through Internet would be gathered in to centralised database.

This would help to collect the data in real time and would save the cost of data entry. The data collection would be paperless and because of less components in the channel, the data would be as good as gathered from the respondents and would speed up the entire research process. Usually surveys are spread over a large geography. By having data gathering in real time, the monitoring will also be efficient as it would be easy to montior and supervise the entire process resulting in strict adherence to quotas with respect to respondents.

By having such a device, market research will enjoy the benefits of technology that we are enjoying right now but only in the cases where the respondent has to self-serve. This will make the research cost effective, time efficient and of course smarter.

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